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Feb 6, 2013
02/13
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we've got a deficit that's, let's just call it morning friends a trillion. the c.b.o. estimate was a little bit below finally. but around the neighborhood of a trillion. that's 12 times 85. on top of that, you will... you have t danger of kicking off a worldwide financial panic as people start worrying about, well, is the united states going to default on its debt? if it comes down to paying social security payments or the interest on the debt, are we so sure that america will cut the social security payments and pay the interest on the debt? and a whole bunch of questions like that that we don't want anybody thinking about. we always want people thinking america is going to pay its obligations all of them. all of them. >> charlie: and america is. and we always have. i believe we will. but that's why i'm sorri about even if it's a small probability of a cataclysmic crash to the national debt ceiling, it wouldn't be good. >> reporter: do you think it's essential for the administration to lay out how it were to reform entitlements? >> not at this stage. charlie: and ther
we've got a deficit that's, let's just call it morning friends a trillion. the c.b.o. estimate was a little bit below finally. but around the neighborhood of a trillion. that's 12 times 85. on top of that, you will... you have t danger of kicking off a worldwide financial panic as people start worrying about, well, is the united states going to default on its debt? if it comes down to paying social security payments or the interest on the debt, are we so sure that america will cut the social...
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Feb 12, 2013
02/13
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KRCB
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the second thing slightly more technical but the best way to think about it, you can run deficits as long as your economy is growing, you can run deficits as long as what you are spending it on on average has a positive return. so wt's the debt to gdp ratio that makes sense is the one that is stable. that at a given level of growth it's not going to keep growing explosively. imagine you have a rotating credit card account. it's probably not the best idea to always be paying interest on $10,000 but on the other hand if it is an auto loan, a student loan, a fixed amount, and nobody is charging you extortion at interest, you can carry that you just don't buy three cars, you just don't keep going to school. so essentially that's the answer. and we have people at our institute, peterson institute, like a man named bill klein who have done calculation on this fothe u.s. you can probably stabilize it somewhere in the 80s. might be better if we are in the 70s but can stabilize in the 80s. >> rose: that is what we are looking to do from the near term, to stabilize. >> so it is not growing exp
the second thing slightly more technical but the best way to think about it, you can run deficits as long as your economy is growing, you can run deficits as long as what you are spending it on on average has a positive return. so wt's the debt to gdp ratio that makes sense is the one that is stable. that at a given level of growth it's not going to keep growing explosively. imagine you have a rotating credit card account. it's probably not the best idea to always be paying interest on $10,000...
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Feb 9, 2013
02/13
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trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely boosted growth in the last three months of 2012. >> so this is a good sign that exports were a little stronger than we thought when the numbers were first estimated and that is obviously a good sign for the economy. again, the economy is obviously growing way too slowly, but at least on this note, i think it will be revised upward. energy is a now a bright spot for the u.s. economy. thanks to new fracking technology, surging domestic production cut crude oil imports last year by 227 million barrels. but tt success was offset soewhat by impo
trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely...
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economy out of its current deficit now so those jobs will never bring a can the economy out of deficit doesn't love or work and never generates taxable income to take about it out of the deficit of it and they don't seem to want to somehow though the importance of saving social thing i had to explain you know it's all very well having they could really just over there it was there was a business plan and some of the old cards lords and they just sit around so i look i quite like the treasury select committee they're the only people we've got in this country who are actually challenge when i'm due to reruns it has to lead to some sort it is the chairman of the treasury select latino m.p. somewhere he is an m.p. where you have to be an m.p. to be on the committee who weren't so worse is going to talk about where his constituency is but he's i think he's a good ag and most of them are trying to hold the bank of england to account now i don't know what they'll be able to do in the end but surely it's better for them actually to oversee because it is easy and to try and turn over the rock a
economy out of its current deficit now so those jobs will never bring a can the economy out of deficit doesn't love or work and never generates taxable income to take about it out of the deficit of it and they don't seem to want to somehow though the importance of saving social thing i had to explain you know it's all very well having they could really just over there it was there was a business plan and some of the old cards lords and they just sit around so i look i quite like the treasury...
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economy out of its current deficit you know so those jobs will never bring a can the economy out of deficit doesn't love or work and never generates taxable income would take about it out of the deficit but it and they don't seem to want to some other the importance of saving social thing i had to explain you know it's all very well having they just over there it was like we're supposed to spend some of the old codger lords and they just sit around so i look i quite like the treasury select committee they're the only people we've got in this country who are actually challenge when i'm due to reruns it under leadscrew sort is the chairman of the treasury select latino somewhere he is an m.p. where you have to be an m.p. to be on the committee who weren't so worse is going to talk about where his constituency is but he's i think he's a good ag and most of them are trying to hold the bank of england to account now i don't know what they'll be able to do in the end but surely it's better for them actually to oversee because it is easy and to try and turn over the rock and have a look underneath
economy out of its current deficit you know so those jobs will never bring a can the economy out of deficit doesn't love or work and never generates taxable income would take about it out of the deficit but it and they don't seem to want to some other the importance of saving social thing i had to explain you know it's all very well having they just over there it was like we're supposed to spend some of the old codger lords and they just sit around so i look i quite like the treasury select...
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economy out of its current deficit you know so those jobs will never bring a can the economy out of deficit doesn't love or work and never generates taxable income would take about it out of the deficit and it and they don't seem to want to some other the importance of saving social thing i had to explain you know it's all very well having that he's really just over there it was there was a business plan some of the old cots lords and they just sit around so i look i quite like the treasury select committee they're the only people we've got in this country you could actually challenge well i'm due to reruns it under leadscrew so he's the chairman of the treasury select latino piece of work he is an m.p. where you have to be an m.p. to be on the committee who weren't so worse is going to talk about where his constituency is but he's i think he's a good ag and most of them are trying to hold the bank of england to account now i don't know what they'll be able to do in the end but surely it's better for them actually to oversee because it is easy and to try and turn over the rock and have a lo
economy out of its current deficit you know so those jobs will never bring a can the economy out of deficit doesn't love or work and never generates taxable income would take about it out of the deficit and it and they don't seem to want to some other the importance of saving social thing i had to explain you know it's all very well having that he's really just over there it was there was a business plan some of the old cots lords and they just sit around so i look i quite like the treasury...
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economy out of its current deficit you know so those jobs will never bring a can the economy out of deficit doesn't never work and never generates taxable income to take about it out of the deficit of it and they don't seem to want to some of the the importance of saving social thing i had to explain you know it's all very well having they just over there it was there was a business plan some of the old codger lords and they just said i was so i look i quite like the treasury select committee they're the only people we've got in this country who are actually challenge when i'm due to reruns it under leadscrew sort is the chairman of the treasury select latino somewhere he is an m.p. where you have to be an m.p. to be on the committee who weren't so worse is going to talk about where his constituency is but he's i think he's a good ag and most of them are trying to hold the bank of england to account now i don't know what they'll be able to do in the end but surely it's better for them actually to oversee because it is easy and to try and turn over the rock and have a look underneath them ju
economy out of its current deficit you know so those jobs will never bring a can the economy out of deficit doesn't never work and never generates taxable income to take about it out of the deficit of it and they don't seem to want to some of the the importance of saving social thing i had to explain you know it's all very well having they just over there it was there was a business plan some of the old codger lords and they just said i was so i look i quite like the treasury select committee...
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economy out of its current deficit now so those jobs will never bring a can the economy out of deficit doesn't never work and never generates taxable income to take about it out of the deficit but it and they don't seem to want to some other the importance of saving social thing i had to explain you know it's all very well having they're going to be able to see if there was there was a business plan some of the old codger lords and they just sit around so i look i quite like the treasury select committee they're the only people we've got in this country who are actually challenge when i'm due to reruns it has to lead some sort is the chairman of the treasury select latino m.p. somewhere he is an m.p. where you have to be an m.p. to be on the committee who weren't so worse is going to talk about where his constituency is but he's i think he's a good ag and most of them are trying to hold the bank of england to account now i don't know what they'll be able to do in the end but surely it's better for them actually to oversee because it is easy and to try and turn over the rock and have a
economy out of its current deficit now so those jobs will never bring a can the economy out of deficit doesn't never work and never generates taxable income to take about it out of the deficit but it and they don't seem to want to some other the importance of saving social thing i had to explain you know it's all very well having they're going to be able to see if there was there was a business plan some of the old codger lords and they just sit around so i look i quite like the treasury select...
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Feb 6, 2013
02/13
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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Feb 7, 2013
02/13
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CNBC
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he said he is still hopeful for a bigger deal to address the debt and the deficit. >> a lot to talk about with our next guest. reaction from capitol hill from kentucky republican senator rand paul. we welcome you, snofrenator. do you think we'll get a deal on the sequestration issue before march 1st? >> you know, all these people carping about sequestration being harmful to the economy. that would presume that the government creates wealth by spending money. i think that's a ridiculous keynesian notion that's been disproved for the last 40 years. so i think cutting spending is precisely what you should do to spur the economy. when money comes to washington and it's spent, that's how it's disruptive and spent inefficiently. let's leave that money in the marketplace. >> are you saying you want to see the sequester happen? >> the sequester barely cuts any icing off the top of the cake. spending is going to rise $9 trillion over the next ten years. the sequester takes 1 trillion off of that. spending still goes up $8 trillion over the next ten years. that's why bowles/simpson said we need 4 t
he said he is still hopeful for a bigger deal to address the debt and the deficit. >> a lot to talk about with our next guest. reaction from capitol hill from kentucky republican senator rand paul. we welcome you, snofrenator. do you think we'll get a deal on the sequestration issue before march 1st? >> you know, all these people carping about sequestration being harmful to the economy. that would presume that the government creates wealth by spending money. i think that's a...
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Feb 6, 2013
02/13
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we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther and live healthier lives. this is important for families and the economy. we are helping people stay healthy longer and one of
we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you...
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Feb 5, 2013
02/13
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a balanced approach has achieved more than $2.5 trillion in deficit reduction. that's more than halfway towards the $4 trillion in deficit reduction that economists and elected officials from both parties believe is required to stabilize our debt. so we've made progress. i still believe that we can finish the job with a balanced mix of spending cuts and more tax reform. the proposals that i have put forward during the fiscal cliff negotiations in discussions with speaker boehner and others, are still very much on the table. i just want to repeat, the deals that i put forward, the balanced approach of spending cuts and entitlement reform and tax reform that i put forward are still on the table. i have offered sensible reforms to medicare and other entitlements, and my health care proposals achieved the same amount of savings by the beginning of the next decade as the reforms that have been proposed by the bipartisan bowls simple son fiscal commission. these reforms radio reduce our government's bill. what's up, cameraman? come on, guys. they're breaking my flow a
a balanced approach has achieved more than $2.5 trillion in deficit reduction. that's more than halfway towards the $4 trillion in deficit reduction that economists and elected officials from both parties believe is required to stabilize our debt. so we've made progress. i still believe that we can finish the job with a balanced mix of spending cuts and more tax reform. the proposals that i have put forward during the fiscal cliff negotiations in discussions with speaker boehner and others, are...
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as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75
as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets,...
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there's a deficit correlation and i want to find out from nicole where linkedin shares are opening. >> easily open over 10%, 13%, it's looking higher. a company remember the ipo back in 2011 compete against monster worldwide and talking about 202 million users and it's 52 weeks over 60% and comes out with the quarter and ebay surprised even themselves and exceeded, and you used the word lackluster and i agree, it says 18 points to the upside, but look, look, the traders showed up for work, it's snowing and everybody is here, busy, we've got action for you. >> hey, wall street is like the new post office, neither rain, sleet nor snow would stop them from making the cash. >> and it's placed nicely into a new survey. 29% say the economy will never fully recover and 60% of people believe this is the new normal of underemployment, and that's what workers have to take jobs below their skill level at lower pay and with less job security because well, they're lucky to find a job and e-mac, no wonder that a cite that helps you find a job like linkedin is doing so well liz: liz: what's striking
there's a deficit correlation and i want to find out from nicole where linkedin shares are opening. >> easily open over 10%, 13%, it's looking higher. a company remember the ipo back in 2011 compete against monster worldwide and talking about 202 million users and it's 52 weeks over 60% and comes out with the quarter and ebay surprised even themselves and exceeded, and you used the word lackluster and i agree, it says 18 points to the upside, but look, look, the traders showed up for...